GM to Aggressively Accelerate Electrification Plans: Report

Mary Barra will be announcing plans to deepen investments in GM’s electric cars on Thursday, according to a report from Reuters. The plan would see GM adding to the $20 billion investment it has already made in electric cars.

Although GM has declined to comment, the automaker has been accused of being too slow to react to the auto industry’s electric push. Although it has announced both the Cadillac Lyriq and the GMC Hummer, neither will be available until at least 2022. 

GM also announced plans to make Cadillac a fully electric brand by 2030, but the report claims that GM could be planning to fully electrify the brand by as soon as 2025. Other brands may follow, too. 

“The pull-ahead in programs is real and the organization is really doubling down on speeding up product development,” the unnamed source told Reuters.

The move may also make sense for GM’s shareholders. According to Reuters, the plan is being implemented to convince investors that GM can take on Tesla. Indeed, the automaker’s official electrification plans have already helped GM share prices rise.

The announcement, if true, will reportedly be announced on Thursday at a conference held by Barclays. 

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